TOKYO: Weeks after his billion-dollar bailout of WeWork, SoftBank Group Corp's founder and CEO Masayoshi Son reiterated his belief in an instinct-led investing style, in a discussion with Alibaba Group Holding Inc's co-founder Jack Ma.
Other entrepreneurs Son met at that time"did not have true belief in their heart. I can feel," Son said."We are the same animal. We are both a little crazy," he said of long-time ally Ma. Son's comments come weeks after he was forced to bail out office-sharing startup WeWork when Neumann's level of control over his firm and hard-partying ways chilled investor appetite and crashed plans for an initial public offering .Son last month said he misjudged Neumann's character, after WeWork - formally The We Company - and other sputtering bets saw his US$100 billion Vision Fund report an US$8.9 billion second-quarter operating loss.
Domestically, SoftBank hopes to drive commercialization of the emerging field of artificial intelligence , announcing on Friday it will spend 20 billion yen over 10 years funding an AI research institute with Tokyo University.
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